At Concertiv one of the core tenants of our service is vendor negotiations. We do this for CFO's and COO's at some of the world's foremost professional services firms. After many year's of work, we have 5 simple steps that anyone can take as they negotiate with their vendors.
On the Concertiv team, we negotiate market data contracts, technology terms & conditions, insurance & benefits, and travel agreements. These steps though can be taken to achieve lower pricing in any vendor category you work wtih.
How to succeed in your next vendor renewal and negotiation
1. Start the process early (90 days minimum)
2. Learn what peers of yours are using the same vendor and get feedback
3. Survey your team to understand who likes/dislikes what you use the vendor for
4. Look for alternatives, do demos, and get quotes to make it competitive
5. Use this information and insight to get the best price possible
Interested in learning more about procurement-as-a-service for your firm?
Learn how leading firms are partnering with Concertiv to reduce spend, minimize risk, and save time across key spend categories.